Why Algorand can hit $3 over the next few weeks
|
- Algorand price has spent nearly sixty days in a consolidation pattern.
- Bulls have been positioning Algorand for a bullish breakout within the Ichimoku Kinko System.
- The $3.00 price level is the next major high and target.
Algorand price action has been mostly constrained between the $1.62 and $2.14 value areas over the past two months. Multiple attempts by bulls to break out higher have not met with success;at the same time bears have been prevented from moving Algorand lower. A pattern now appears to be forming which may end this impasse.
Algorand price eyes a breakout to hit a new all-time high at the $3.00 value area
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.